Q1 2024 EPS Estimates for Canadian Natural Resources Limited Cut by Zacks Research (TSE:CNQ)

Canadian Natural Resources Limited (TSE:CNQ) (NYSE:CNQ) – Zacks Research lowered their Q1 2024 earnings per share estimates for shares of Canadian Natural Resources in a research report issued on Tuesday, April 23rd. Zacks Research analyst T. Saha now forecasts that the company will earn $1.41 per share for the quarter, down from their prior estimate of $1.62. The consensus estimate for Canadian Natural Resources’ current full-year earnings is $7.61 per share. Zacks Research also issued estimates for Canadian Natural Resources’ Q3 2024 earnings at $2.09 EPS, Q1 2025 earnings at $1.84 EPS, Q1 2026 earnings at $1.78 EPS and FY2026 earnings at $7.59 EPS.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last issued its earnings results on Thursday, February 29th. The company reported C$2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.14 by C$0.20. Canadian Natural Resources had a return on equity of 21.11% and a net margin of 22.89%. The business had revenue of C$9.55 billion during the quarter, compared to analysts’ expectations of C$9.04 billion.

A number of other equities research analysts have also commented on the company. TD Securities increased their price target on Canadian Natural Resources from C$100.00 to C$110.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Jefferies Financial Group increased their price target on Canadian Natural Resources from C$86.00 to C$110.00 and gave the stock a “hold” rating in a research report on Friday, April 12th. CIBC increased their price target on Canadian Natural Resources from C$105.00 to C$115.00 and gave the stock an “outperform” rating in a research report on Monday. Evercore increased their price target on Canadian Natural Resources from C$105.00 to C$115.00 in a research report on Monday, April 8th. Finally, BMO Capital Markets increased their price target on Canadian Natural Resources from C$110.00 to C$115.00 in a research report on Thursday, March 28th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Canadian Natural Resources presently has an average rating of “Moderate Buy” and an average price target of C$111.00.

Canadian Natural Resources Trading Up 0.2 %

Shares of CNQ opened at C$105.43 on Wednesday. The stock has a market cap of C$112.81 billion, a PE ratio of 14.11, a PEG ratio of 0.53 and a beta of 1.98. Canadian Natural Resources has a 1 year low of C$69.83 and a 1 year high of C$112.99. The stock has a 50 day simple moving average of C$99.87 and a 200-day simple moving average of C$91.64. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 31.01.

Canadian Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $1.05 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.98%. This is an increase from Canadian Natural Resources’s previous quarterly dividend of $1.00. Canadian Natural Resources’s dividend payout ratio is 51.54%.

Insider Activity

In other news, Senior Officer Warren Paul Raczynski sold 3,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total value of C$332,430.00. In related news, Director Norman Murray Edwards sold 251,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of C$98.46, for a total transaction of C$24,762,187.00. Also, Senior Officer Warren Paul Raczynski sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of C$110.81, for a total value of C$332,430.00. Insiders have sold a total of 332,363 shares of company stock valued at $32,567,851 in the last 90 days. 2.20% of the stock is owned by company insiders.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).